MDM wrote:How many people can afford these places? Do we have a bubble forming in the high end rental market? Or will these places be like what I have seen in the Newport Towers: Eight people stuffed into a 2 bedroom unit?

Meh. I hear the same comment every time a similar building opens up and yet they all lease up super quick. The truth of the matter is that lots of people can afford these rents nowadays, and a lot of those people are choosing to come to Jersey City.

Heck, in our building every three bedroom apartment is leased by a couple each, with the exception of two units, which are leased by a single person each, and the rents are about the same.

This exactly-- there needs to be more non-luxury housing built or this will happen! It's the only way people can survive these days. Two to bedroom with living room converted into another bedroom.

A couple years back, a landlord with a 2 family got busted for having about 30 people in the building (fire department responding to a minor fire found it out). He was renting it out by the sqft. For $600 a month you got room for a mattress.

The building tenants were all from India.. so maybe they are used to living in cramped conditions.

How many people can afford these places? Do we have a bubble forming in the high end rental market? Or will these places be like what I have seen in the Newport Towers: Eight people stuffed into a 2 bedroom unit?

The Marchetto Higgins Stieve-designed rental features a mix of studios, one, two, and three-bedrooms with apartment sizes ranging from 430 square feet to 1,530 square feet. As for prices, one-bedrooms start at $2,795, two-bedrooms at $3,850, and three-bedrooms are asking from $5,620. Apartments come fitted with stainless steel appliances, quartz countertops in the kitchen, washers and dryers in-unit, walk-in closets, and in some apartments, private terracesAs for the amenities, they include a rooftop pool, automated parking, a transit screen in each ground floor elevator lobby, a dog run, a cafe, a fitness center, a game room, yoga rooms, and electric-car charging stations. In addition, there’s also a 7,200-square-foot retail space on the ground floor.

Mayor Steven M. Fulop and other Jersey City officials joined representatives of Fields Development Group yesterday to celebrate the grand opening of Lenox with a ribbon-cutting ceremony. The event marked the start of leasing at the new 15-story tower, which is the only new luxury residential development in Jersey City’s Paulus Hook neighborhood.